Saba Closed-End Funds ETF (BATS:CEFS) Shares Up 5% – What’s Next?

Saba Closed-End Funds ETF (BATS:CEFS)’s stock price traded up 5% during trading on Thursday . The company traded as high as $22.40 and last traded at $23.10. 88,133 shares changed hands during mid-day trading, an increase of 21% from the average session volume of 72,660 shares. The stock had previously closed at $22.00.

Saba Closed-End Funds ETF Price Performance

The firm’s 50 day moving average price is $22.82 and its two-hundred day moving average price is $22.68. The firm has a market cap of $307.23 million, a price-to-earnings ratio of 21.88 and a beta of 0.72.

Saba Closed-End Funds ETF Increases Dividend

The business also recently declared a monthly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 30th were issued a dividend of $0.266 per share. This is a boost from Saba Closed-End Funds ETF’s previous monthly dividend of $0.14. This represents a c) annualized dividend and a dividend yield of 13.8%. The ex-dividend date of this dividend was Tuesday, December 30th.

Hedge Funds Weigh In On Saba Closed-End Funds ETF

Several institutional investors have recently bought and sold shares of CEFS. Farther Finance Advisors LLC boosted its holdings in shares of Saba Closed-End Funds ETF by 20.3% in the second quarter. Farther Finance Advisors LLC now owns 2,792 shares of the company’s stock valued at $62,000 after acquiring an additional 471 shares in the last quarter. Allworth Financial LP acquired a new stake in Saba Closed-End Funds ETF in the second quarter valued at about $62,000. Columbus Macro LLC boosted its holdings in Saba Closed-End Funds ETF by 38.1% in the 2nd quarter. Columbus Macro LLC now owns 9,609 shares of the company’s stock valued at $214,000 after purchasing an additional 2,652 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in Saba Closed-End Funds ETF during the 2nd quarter worth approximately $249,000. Finally, Private Advisor Group LLC increased its position in Saba Closed-End Funds ETF by 29.5% during the 3rd quarter. Private Advisor Group LLC now owns 13,395 shares of the company’s stock worth $305,000 after purchasing an additional 3,055 shares during the period.

About Saba Closed-End Funds ETF

The Saba Closed-End Funds ETF (CEFS) is an exchange-traded fund that mostly invests in target outcome asset allocation. The fund is an actively managed fund-of-funds that seeks to generate high income by investing in closed-end funds trading at a discount to net asset value and hedging for duration risk. CEFS was launched on Mar 21, 2017 and is managed by Saba.